A YouTuber set out to start a million-dollar brand on Amazon and has been documenting the process over the past 15 months. Launching a brand on Amazon is not an easy task and can be expensive; however, it has a potential seven-figure payday. The journey is broken down into five phases, starting with the planning phase of picking the right product. The YouTuber chose to create a pet brand on Amazon but discovered it was a highly competitive market. After creating four criteria, they purchased a hundred units of three products meeting the criteria and moved into testing the market phase. The final product developed was a leash that came with a fanny pack that was big enough for poop bags and a cell phone. Despite the high cost, setbacks, and delays, the YouTuber invested over $30k in creating the product.
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Launching a Million Dollar Brand on Amazon: A Step-by-Step Guide
Introduction
15 months ago, a mission to start a million-dollar brand on the world’s largest e-commerce platform was set in motion. Unlike other ways to sell a product online, launching a brand on Amazon is one of the more challenging ways to do it. It takes the most amount of time and money to get going, but the highest return is possible, with the potential for a single listing once it’s up and running, becoming a seven-figure payday.
Phase One: Planning
The most crucial part of the entire process lies in picking a good product, which must be in high demand but not too competitive, allowing for improvements based on the current market. The decision to create a pet brand on Amazon was made, knowing that the pet category was one of the most competitive markets worldwide. After budgeting five to eight thousand dollars, a budget of fifteen to eighteen thousand dollars for product launch was quoted, resulting in triple the initial budget.
Phase Two: Testing the Market
Testing the market was the goal, to see without adding any improvements to the products if they could sell, proving if it was a healthy market or not. After sending in products purchased from Alibaba, a Pet water bottle sold ten units on the first day but got hit with a patent violation. However, the hands-free dog leash sold over the course of about three weeks, making it the official product to craft.
Phase Three: Production
Finding a supplier that could work based on the requirements needed for the product was the next step. A deposit of ten thousand dollars on the production cost of three thousand units was made, with the remainder of eight thousand dollars being paid once production completed.
Phase Four: High-Quality Photos and Branding
A photography agency that specialized in pet photography was hired to capture high-quality photos for the product. With a total investment of over thirty thousand dollars, branding and a brand story on the back of the box were added to give consumers a great first impression.
Conclusion
Creating a million-dollar brand on Amazon is no easy feat. Essentially, it takes a lot of money to get off the ground, and setbacks happen along the way. If one has a great product, a strong strategy, and the patience to endure obstacles, incredible success can be achieved.
